We get this a lot on our site and the answer to Who Is The Richest Etoro Trader….Concerns that i hear from brand-new financiers what if you’re brand new to investing you simply don’t want to decide what you in fact wish to invest and you want somebody to do it for you there’s only a number of manner ins which that can take place the first off you can employ an investment portfolio manager they’ll typically charge a rather a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is of course you can buy mutual funds specific funds are produced again with an account supervisor in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios too now if you’re brand new to an overall please keep in mind this platform is rather sophisticated you can do cfds which obviously cfds are ways of investing
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with not really having the total of capital so with anything that you’re discovering please do study the platform do not simply assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you in fact get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at threat and we have to bear that in mind do not just do something since that person has actually stated they have actually made revenue 14 months in a row buy these choices because you believe is the right ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
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well-known for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of options and essentially whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved truly critical you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero fee websites then may not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you really begin purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with costs really crucial to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling okay so commission costs are free however there are a couple of other costs the very first one is withdrawal charges so you can certainly put cash in now if you remain in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may say alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those options that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends completely how you’re investing but that is a charge to remember the second fee that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and two free trade anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they in fact giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say offer me us dollars instead you have to pay their fees now the fantastic feature of though when you’ve converted your cash you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent utilizing that part of their site will not certainly limit you in any way nevertheless we have to understand two other costs the first being what’s called spread charges okay and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you
on is essentially the difference that becomes part of the investment platform between the buy cost and the list price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that really suggests that when you want to buy or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the present rate of tesla is the worth of a share what’s called spread costs is the difference then actually to buy that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of benefit from you each time you do a purchaser’s share so keep that in mind certainly it’s more expensive to buy than it is to sell so they’re going to offer you less back with your sale and you state alright well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to offer it which is how they make a little bit of money on those spread charges it’s generally incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a little bit cash now the last accomplishment is called an
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over night cost now this is truly important if you’re really using cfds yourself also an overnight cost is when you’re not doing that buy sell deal in the exact same day fine there’s then an overnight cost charged or perhaps if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which implies you’re actually buying the precise possession instead of using take advantage of anyway you will not get hit with these costs however these costs are if you’re utilizing utilize and cfds and after that you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you enter into the assistance section this isn’t the overnight fees information you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that just applies as i said to cfds there are some additional charges obviously depending on what you are purchasing too this is on your own so keep that in mind but complete costs are entirely within their aid details all right and we discussed along with free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of really using these copy works they do not have any extra charges on top of the regular fees that
are there now what you require to remember though is these possibly handled by other individuals completely or in some cases have actually created portfolios you’ve got a genuine individual doing the management you have to make certain you pick the individual that’s right for you much like any type of work this is your financial assets so we definitely require to ensure it’s the right person for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve got a number of various alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your charge card details or anything you can basically have this virtual portfolio simulate as if you are using your own cash but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash maybe this is an excellent alternative for you again to test the theories fine you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a method to type of safe play with it clearly you might have lost out on gains and losses throughout that time obviously if you had invested your genuine cash it enables you to construct self-confidence comprehend the platform so that’s one option for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to remember before you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i suggest by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just indicates am i okay with possibly losing an excellent quantity of this financial investment or getting as
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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose cash however that equally suggests they’ll lose eventually in their journey obviously individuals do earn money also and i have actually got videos all about how you can ensure you are among individuals to actually make money but in this situation make sure you research study your risk level would you be all right giving your money to somebody else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re investing in completely if you’re somebody who isn’t wanting to be that risky do not choose somebody who’s entirely into crypto or currency conversion consider it you ‘d probably desire a foundation of strong products
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like gold and even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really utilize this too really easily over here you can copy individuals now it will provide you a great deal of options and you can use the system to really search for somebody that you fancy really following so let’s see possibly we desire somebody from joined kingdom um who invests in let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a great quantity and i can find everybody who has met that requirements and it does provide you a threat element too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to verify are you fine with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she in fact purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to know ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got some of mine actually that i purchase too which is great so actually for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s likewise got a little bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production business as that. Who Is The Richest Etoro Trader.
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